The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
Gold poised for short-term bounce
Last week saw gold bash its head against $1205 several times, but with no success.
The move towards support at $1195 may result in a bounce, but a close above $1205 and then $1215 is still needed to indicate a breakout. A close below $1195 brings $1180 and $1160 back into view as possible support.